This is from Reuters’ original reporting, but is being republished far and wide, now… so I feel safe in the knowledge that all I am doing is re-stating what other MSM outlets allege is provable.
To be sure, there are several desks inside the DoJ that must sign off before a more-formal criminal inquiry gathers steam, and there is no way to know whether that has happened, or will happen. Nor is it known (in what would be potential “bank run” scenarios) whether it will lead to US felony indictments of individual officers and agents. [In addition, it might be hard to get long arm jurisdiction over CZ — as he mostly stays outside the US for much this reason.]
In any event, here is the latest, do go read it all — sheesh:
…Reuters has investigated Binance’s financial crime compliance over the course of 2022. The reporting showed that Binance kept weak anti-money laundering controls, processed over $10 billion in payments for criminals and companies seeking to evade U.S. sanctions, and plotted to evade regulators in the United States and elsewhere….
Binance has disputed the articles, calling the illicit-fund calculations inaccurate and the descriptions of its compliance controls “outdated.” The exchange has said it is “driving higher industry standards” and seeking to “further improve our ability to detect illegal crypto activity on our platform.”
Launched by Zhao in Shanghai in 2017, Binance now dominates the crypto industry. The exchange processed trades worth around $1.6 trillion in October, about half of the entire crypto market’s trading volume. That sum dwarfed its former challenger FTX, which handled $230 billion in trades that month, according to data site CryptoCompare….
And as I post this one, Mr. John T. Ray III, the “clean up” CEO at bankrupt FTX (in Chapter 11), has offered a preview of his sworn testimony to the US House Committee, for tomorrow. It is devastating, as BillyTheKid correctly notes. SBF and his close circle are… headed to jail behind this.
Powerline Lies... 